Friday, February 01, 2008
Will anybody go to jail?
Seems unlikely:
The sooner the media and the law get their collective heads around this, the sooner we can put this mess behind us. And in the words of Harvey Keitel's character in National Treasure - "Somebody has got to go to jail." ¶ 1:05 PM
Securities investigators for Secretary of State William F. Galvin have opened a probe of Merrill Lynch & Co.'s dealings with Springfield after the city lost nearly $13 million in investments that Galvin said were too risky for municipalities.The fact is that the massive fraud that is causing both equity and credit markets to freak out world-wide is not the "sub-prime" mortgage mess. It is, very simply, the result of MBAs and brokers lying about risk.
more stories like this.
Investigators in Galvin's office subpoenaed Merrill Lynch officials yesterday in an effort to find out who advised the city to make the investments and what kind of advice they offered
The sooner the media and the law get their collective heads around this, the sooner we can put this mess behind us. And in the words of Harvey Keitel's character in National Treasure - "Somebody has got to go to jail." ¶ 1:05 PM
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A little finger shaking maybe...but no jail time. Gommon...this is America, you don't put the elitist in a real Jail. Remember they are the Special Class, above the Justice system that is used to keep the masses in order. What is wrong with you? Are you un american inferring that the special class suffer the indignities of the consumer class? America has a Pay-Go Judicial System that works just fine....why you trying to muck up the works?
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